The basics of Forex trading
As is the case in many other countries around the world, Forex trading in permitted in India under certain regulations and guidelines. Forex trading, the buying and selling of global currencies, is said to be the largest and most liquid market in the world. The two currencies that are involved in a transaction are called currency pairs and, in most countries, often involve trading USD and other major Forex currencies in order to truly capitalise on market activity. India’s currency is the Indian Rupee (INR), with the Reserve Bank of India (RBI) being the one to monitor market movement and activity in the country. This means that it is tasked with intervening where necessary.In early August 2021, the INR continued on an upward trajectory, marking a six-week high prompted by gains in local stocks, amongst other factors. Commenting on the matter, a senior trader at a private bank was quoted as saying, “There seems to be good flows into the market and not much resistance from the RBI so far.”
